Having a passport is one of the common things nowadays. Most of the people have passports as a valuable legal document. At present time, it does not mean that a person is applying for passport only for the reason of travelling. There are various reasons to apply for a passport. Passport is one of essential documents that serve many purposes, like date of birth verification, address verification, citizenship as well as photo identity proof. Though, people must be aware of the fact that the validity of a passport is limited and after certain periods of time, passport needs a renewal. There are variation in Passport, Local passport and International passport. The world is full of differentiation and everywhere we can meet different people, different legal rules and regulations, and the same rules are applied in passports also. And this is the reason; people from some specific countries need to go for applying for a second passport to travel all around the world with different perspectives.
Advantage of Having Second Passport
Second passport functions in many ways. It allows people to go around the whole world. There are so many reasons that people travel country to country, whether it is only for travelling, studying, promoting business from domestic level to international level or other issues. Before applying for a second passport, it should be kept in mind that it is not at all easy to get second passport and citizenship in other countries. People, who have acquired, are eligible to get some benefits. The benefits are,
- They can provide better education to their children.
- They can able to increase their standard of living of their family with second passport along with dual citizenship.
- They can protect their income keeping it safe in other countries.
- They can enlarge the field of their business promoting it from native country other countries, means their businesses get world wide exposure.
- They are able to get tax exemptions.
- They can take their assets from domestic level to the international level.
- Even people can change their mode of investment from local to international while have second passport and citizenship.
Stephen M.S Lai & Co. CPA is one of the worldwide renowned Certified Public Accountants firms in Hong Kong and provides versatile services in business because the company acquires license of private, public as well as aging businesses. Even the company is very much experienced to assist in applying for a second passport to those who are in need for the purpose for business or to relocate to other countries for better lives.
Why do you need to apply for Second Passport?
Getting a second passport and citizenship is the doorway to live other countries without any legal barrier and it is very much valuable in many senses. People, who have second passport, are not being pressurized to close their foreign bank accounts and they are able to transfer their assets as well as incomes to their preferred countries. Having second passport means, you are free to travel all around the world without visa. Sometime applying for visa and waiting for approbation takes long time as well as hassle some. But second passport helps to live and travel without all these troubles and helps to get international exposure.